New Delhi, Aug 25 (Inditop.com) Commerce Minister Anand Sharma Tuesday asked Indian envoys at various missions to remain on guard over protectionism, even as he urged for a renewed focus on Africa and Latin America to push India’s merchandise exports.
“We have noticed the disturbing trend of the growing tendency of protectionism amongst countries of the West,” Sharma told a meeting here with the heads of Indian missions in various countries.
“It is my firm belief such measures are delaying economic recovery and prolonging recession. It is a time in which leadership will be tested to break down barriers and not to erect new ones,” he said.
He also said some European countries were imposing non-tariff barriers to trade even as Indian consignments of pharmaceuticals bound for Africa were repeatedly held up in the EU. This apart, the US was putting in place “buy America” provisions.
“I will urge our missions to remain vigilant to such trends to enable us to prepare an effective response.”
According to the minister, it was time India diversified its markets to buffer the impact of economic slowdown and take merchandise exports back on the high growth trajectory after 10 successive months of decline.
“Africa and Latin America afford a huge opportunity and it shall be my endeavour to intensify our economic engagement with the countries of this region,” he said, adding a strategy paper was being prepared to target the two regions.
Sharma said his ministry will play a pro-active role to promote greater dialogue among various organs of the government. He proposed regional meetings with the heads of missions for a greater understanding of government policies.
“I feel our diplomats need a strong understanding of the prevailing investment policies. There is a need of greater synergies between different organs of government.”
